Market Overview

UPDATE: Sterne Agee Upgrades CH Robinson Worldwide to Buy on Improved Fundamentals

Share:
Related CHRW
Earnings Scheduled For April 26, 2016
Benzinga's Top Downgrades
Techs Lead Stocks Lower; Cirrus Sparks Chipmaker Gains (Investor's Business Daily)

Sterne Agee raised its rating on CH Robinson Worldwide (NASDAQ: CHRW) from Neutral to Buy and increased its price target from $60 to $65.

Sterne Agee commented, "Our 2-year bearishness on CHRW may be turning on a weaker truck rate environment and a realization by management that it must use its balance sheet to break out of the truck brokerage box a little more aggressively. We view the recent Phoenix International acquisition as an important step in that direction. At present, we view this as more of a short-term opportunity than a longer-term investment given our broader view of the trucking economy, which could tighten quickly if volume returns."

CH Robinson Worldwide closed at $58.58 on Friday.

Latest Ratings for CHRW

DateFirmActionFromTo
Apr 2016Stephens & Co.DowngradesOverweightEqual-weight
Apr 2016BB&T CapitalDowngradesBuyHold
Apr 2016Buckingham ResearchMaintainsBuy

View More Analyst Ratings for CHRW
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (CHRW)

View Comments and Join the Discussion!